AbbVie Inc. (ABBV) Shares Sold by Columbia Asset Management

Columbia Asset Management lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,895 shares of the company’s stock after selling 525 shares during the period. Columbia Asset Management’s holdings in AbbVie were worth $2,891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its stake in AbbVie by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after acquiring an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after buying an additional 3,706,941 shares during the period. BlackRock Inc. grew its stake in shares of AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after buying an additional 1,864,418 shares during the period. Orbis Allan Gray Ltd grew its stake in shares of AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after buying an additional 3,340,038 shares during the period. Finally, Woodford Investment Management Ltd grew its stake in shares of AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after buying an additional 937,500 shares during the period. Hedge funds and other institutional investors own 70.54% of the company’s stock.

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In other news, EVP Carlos Alban sold 83,574 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $114.49, for a total value of $9,568,387.26. Following the sale, the executive vice president now directly owns 133,026 shares in the company, valued at approximately $15,230,146.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert A. Michael sold 992 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. Insiders sold a total of 211,197 shares of company stock worth $24,585,575 over the last 90 days. Company insiders own 0.07% of the company’s stock.

Several research firms have recently weighed in on ABBV. Barclays dropped their price target on shares of AbbVie from $120.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday. BMO Capital Markets reissued a “sell” rating and issued a $80.00 price target on shares of AbbVie in a research note on Thursday. ValuEngine cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 28th. Jefferies Group set a $125.00 price target on shares of AbbVie and gave the company a “buy” rating in a research note on Friday, March 23rd. Finally, Evercore ISI reissued a “buy” rating and issued a $144.00 price target on shares of AbbVie in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $117.38.

AbbVie stock opened at $89.78 on Friday. AbbVie Inc. has a 52-week low of $63.12 and a 52-week high of $125.86. The company has a market cap of $146,426.98, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 0.87 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The business had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the business earned $1.20 EPS. The company’s revenue was up 13.9% on a year-over-year basis. equities analysts expect that AbbVie Inc. will post 7.51 earnings per share for the current fiscal year.

AbbVie announced that its Board of Directors has authorized a share buyback plan on Thursday, February 15th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.28%. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 50.71%.

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AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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